Aptech fell 5.18% to Rs 172.20 at 13:30 IST on reports the company's plan to list its China-based unit on the New York Stock Exchange has been put on hold.
Meanwhile, the BSE Sensex was down 59.51 points, or 0.37%, to 15836.77.
On BSE, 8.29 lakh shares were traded in the counter as against an average daily volume of 11.22 lakh shares in the past one quarter.
The stock hit a high of Rs 182.50 and a low of Rs 170 so far during the day. The stock had hit a 52-week high of Rs 296 on 22 September 2009 and a 52-week low of Rs 59.10 on 2 December 2008.
The stock had underperformed the market over the past one month till 30 October 2009, falling 33.69% as compared to the Sensex 7.18% fall. It underperformed the market in past one quarter, rising 1.20% as against 3.30% rise in the Sensex.
The small-cap computer education provider has an equity capital of Rs 46.50 crore. Face value per share is Rs 10.
The current price of Rs 172.20, discounts the company's Q3 September 2009 annualised EPS of Rs 4.14, by a PE multiple of 41.59.
Aptech's China arm, BJB Career Education Company, which reportedly contributes nearly 50% to Aptech's revenue, had applied for a listing on the New York Stock Exchange (NYSE) or Nasdaq.
But the plan to list BJBC has been reportedly put on hold since there were some discrepancies in the unit's accounts disclosures for the first six months.
The stock witnessed a massive selling pressure last week. The stock has plunged 34.56% from a recent high of Rs 263.15 on 23 October 2009.
Aptech's net profit rose 36.6% to Rs 4.81 crore on a 15% increase in sales to Rs 27.64 crore in Q3 September 2009 over Q3 September 2008. The result was announced on 31 October 2009.
Aptech, an IT education service provider, has a strong focus on industry-related training and introduction of customised courses. It derives substantial revenues from international operations. The company also has a presence in Latin America, South East Asia, the Middle East, and SAARC.